Stoneridge Investment Partners LLC Takes $1.01 Million Position in American Tower Corporation $AMT

Stoneridge Investment Partners LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,803 shares of the real estate investment trust’s stock, valued at approximately $1,006,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Riverwater Partners LLC increased its stake in American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 56 shares during the last quarter. Triumph Capital Management lifted its stake in shares of American Tower by 37.3% in the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 56 shares in the last quarter. Twin City Private Wealth LLC lifted its stake in shares of American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after purchasing an additional 58 shares in the last quarter. Asset Advisory Group Inc. grew its holdings in shares of American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 60 shares during the period. Finally, Argent Advisors Inc. grew its holdings in shares of American Tower by 0.9% during the 4th quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $175.68 on Friday. The stock’s 50 day moving average price is $172.82 and its 200 day moving average price is $177.94. The firm has a market capitalization of $81.86 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a one year low of $160.06 and a one year high of $214.79.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the business earned $2.60 EPS. American Tower’s quarterly revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower’s dividend payout ratio is 98.49%.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,791 shares of company stock valued at $1,204,091 over the last 90 days. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AMT. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Jefferies Financial Group decreased their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Scotiabank restated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.14.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.